Alfred P. Sloan

Sloan established his foundation in 1934, creating a grant-making institution that outlasted his career at General Motors. Its research fellowships, awarded annually since 1955, illustrate how sustained funding can work through successive cohorts. Each award is time-limited, rather than a lifelong salary, but the recurring programme gives early-career scientists flexible support. The distinction between a lasting funding system and an indefinitely funded individual project is useful here.